Russia's VEB Finance delays sale of five-year dollar benchmark notes

By Christine Van Dusen

Atlanta, Dec. 6 - Russia's VEB Finance plc was expected to price a dollar-denominated issue of benchmark-sized notes due December 2016 on Tuesday but has delayed issuance for undisclosed reasons, a market source said.

The issuer set price talk for the deal at the 5 5/8% area.

BNP Paribas, JPMorgan, Morgan Stanley and RBS are the bookrunners for the Rule 144A and Regulation S transaction.

The notes are guaranteed by Vnesheconombank, the Moscow-based Bank for Development and Foreign Affairs.

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